On state ownership of private assets, Chairman Greenspan is so
fearful of it that he has overstepped his bounds and thrown behind
tax reform to prevent the building up of governement surpluses which
would have to be invested in private markets. So with Greenspan
having spoken, substantial reductions in capital gains and estate
taxes can now be expected. The US ruling class surely has a knee
jerk, purely ideological reaction against any kind of state
ownership--or so it seems to me.
Yours, Rakesh